Lance Armstrong-founded charity says Nike drops sponsorship

May 28, 2013|Reuters

May 28 (Reuters) - The Livestrong Foundation, the cancercharity founded by disgraced cyclist Lance Armstrong, said onTuesday that Nike Inc had dropped its sponsorship of thegroup, which is known for its distinctive yellow wristbands.

The group had flourished during Armstrong's cycling career,which saw him win the grueling Tour de France race seven times,titles he was stripped of last year amid accusations that heused performance-enhancing drugs.

Armstrong admitted to doping early this year and steppedaside from the charity, which he had founded after beingdiagnosed with testicular cancer.

The group said Nike's move was not unexpected.

"We expected and planned for changes like this and aretherefore in a good position to adjust swiftly and move forwardwith our patient-focused work," the group said in a statement.